Highlights of key economic statistics from last week compiled by Putnam Investments.
- The CPI remained unchanged while core CPI rose 0.2% in October, the Bureau of Labor Statistics found.
- The Producer Price Index for final demand fell 0.5% in October, the Bureau of Labor Statistics noted.
- Retail sales declined 0.1% in October compared with September, the Census Bureau stated.
- Initial jobless claims rose by 13,000 to 231,000 in the week ended November 11, 2023, according to the Department of Labor.
- As of November 8, 2023, of the 441 S&P 500 Index companies reporting third-quarter earnings, 351 beat analysts’ estimates, according to S&P Dow Jones Indices.
- The NFIB Small Business Optimism Index decreased in October.
- The ZEW Indicator of Economic Sentiment for Germany increased in November.
- Eurostat reported euro area industrial production dropped by 1.1% in September compared with August.
- Eurostat noted euro area GDP growth fell 0.1% in the third quarter compared with the previous quarter.
- The yield on the 10-year Treasury note fell.
- Deposit flight continues to pressure banks to tighten lending standards, increasing the potential risk of a credit squeeze.
- Declining liquidity and deteriorating financial conditions, combined with high valuations, are contributing to a substantial uptick in risk asset volatility.
- Global leverage is at worrisome levels and will eventually need to be paid for, at a time when most developed markets are facing a fiscal drag from the end of post-pandemic stimulus.
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All economic and performance information is historical and does not guarantee future results. The views and opinions expressed are those of Putnam Investments, are subject to change with market conditions, and are not meant as investment advice.
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